Posts Tagged ‘ford owner loyalty’

The Hyundai Elantra won N.A. Car of the Year this week while Hyundai itself took honors in a new survey for having the highest owner loyalty rate.

Apparently, it depends on who you ask and how you ask it. When it comes to owner loyalty, one new study puts Hyundai in the lead, while Ford tops the list in another.

Both makers list customer retention among the most important issues they face today. Industry analysts insist that customer loyalty not only translates into more sales, but also into reduced marketing costs, as it typically is less expensive to keep a buyer within a vehicle family than going out to “conquest” a new customers away from one of your competitors.

Your Winning News Source!

It also translates into higher residual values, according to Ford global marketing chief, Jim Farley, as products with loyal owners tend to retain more of their original price when it comes time to trade in.